Estate planning for our pets? What happens to them if we die?
Posted on March 1, 2008 - Filed Under Pet Care, Pet News
If you're like me, you've read stories from time to time of eccentric millionaires leaving the bulk of their money to care for little FooFoo and Fido when they died. I'm not asking the question in the title of this post to address odd situations like millionaire pets -- but I read a story that made me think. What WOULD happen to our good old cat, Tigra, if my wife, Shirley, and I were to suddenly fall down a well, over a cliff, or simply be killed by a drunken driver.
God forbid if I sound morbid here. I'm confident our son or daughter would take care of Tigra, in our case, but what about you and your pet? I read a story just awhile ago about a woman in California who had $10,000 a year set aside in her will to care for her dog, and even designated by name a friend who had agreed to take the dog in and be responsible for her care.
If you're like me, 1) you've given the issue little or no thought, or, 2) you've assumed a family member would step in to care for your pet if you were to die. Or have you been wiser than I and included your pet in your will or estate planning?
Tells us what you think about the whole idea, please.
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